New State Capital Partners has held the final close of Fund IV with $700m in capital commitments. The fundraising, which was oversubscribed, above its target, and completed in less than six months takes the firm’s overall assets to $1.8bn.
Fund IV attracted a diverse investor base, including endowments and foundations, family offices, public pension plans, insurance companies, OCIOs, and high-net-worth individuals across North America and Europe. New State professionals committed $60m via the general partner, seeking to drive alignment between the firm and its limited partners.
New State has completed more than 45 acquisitions to date. The firm leverages a differentiated sourcing model, including strong relationships with the independent sponsor community, designed to identify attractive investment opportunities. The depth and breadth of New State’s team ensures hands-on support to drive portfolio company growth.
New State’s 34-person team includes 12 management company partners and a dedicated 10-person, in-house operations team, providing deep experience and operational knowledge.
Kirkland & Ellis served as fund counsel, and Harris Williams Private Capital Advisory served as placement agent.
